-In the table above, the marginal benefit of the 4 millionth television set is
Definitions:
Setup Cost
The expenses incurred to prepare equipment or processes for manufacturing an order or a batch of goods, including costs for adjusting machines, cleaning, and changing tooling.
Safety Stock
Extra inventory kept on hand to protect against stockouts caused by unpredictable demand or supply delays.
Lead Time
The total time taken from the initiation to the completion of a production process, including the time needed for all preparatory steps and actual manufacturing.
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